Global Fungicides Market Worth 17,210.8 Million USD By 2022Published On: October 26, 2017
The global fungicides market will grow at a CAGR of 5.0% from 2017 to 2022 to reach USD 17,210.8 million by 2022, according to the latest publication from Meticulous Research®. The global fungicides market is primarily driven by the reduction in fertile and arable land, improving the resistance of fungi, increasing crop losses due to fungi, advanced agricultural practices and technologies, growing need of higher crop quality and yield, and increasing post-harvest losses. Further, integrated pest management (IPM), and developing nations provide significant opportunities to fungicides manufactures in this market. However, stringent regulations for food safety and quality, increasing awareness regarding the side-effects of crop protection chemicals, increasing cases of soil toxicity, and lengthy product registration process obstructs the growth of this market to some extent.
The global fungicides market is mainly segmented by type, crop type, mode of application, and by form. On the basis of type, the market is segmented as chemical and biological. The chemical fungicides market dominated the overall market in 2016 and is also estimated to continue its dominance over the forecast period, owing to its easy availability, low cost, and higher efficiency as compared to biological fungicides.
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On the basis of crop type, the market is segmented into cereals and grains, oilseeds and pulses, fruits and vegetables, turf grass and ornamentals, and others. The Cereals and grains crop type commanded the largest share in the global fungicides market in 2016, owing to their large production across the globe and increasing adoption of fungicides by farmers to control the yield losses.
On the basis of mode of application, the market is segmented into spraying, dusting, soil treatment, seed treatment, volatilization, post-harvest, and others. The spraying application accounted for the largest share in the global fungicides market in 2016, owing to its higher efficiency and simplicity as compared to other modes of applications.
Geographically, Latin America accounted for the largest share in the global fungicides market in 2016, followed by Europe and Asia-Pacific region. The largest share of the Latin America region is mainly attributed to the large arable land, increasing demand for crop yield & efficiency, increasing crop yield losses, less stringent laws related to food safety, increased crop yield, higher adoption of advanced technologies, and availability of government funding. However, Asia-Pacific region is slated to register the fastest growth during the forecast period, primarily due to the large area under agriculture cultivation, growing need to increase crop yield due to increasing population, increasing organic farming and use of biological fungicides, and increasing government funding.
The leading companies have employed various strategies to expand their product and application offerings, global footprint, and augment their market shares. The key players in the global fungicides market are Drexel Chemical Company, Monsanto Company, Biostadt India Limited, Arysta LifeScience Corporation, FMC Corporation, Syngenta, BASF Corporation, Bayer Crop Science Ag, E.I. Dupont Nemours and Company, Sumitomo Chemical Co. Ltd., Nufarm Limited, The Dow Chemical Company, Adama Agricultural Solutions Ltd., Heranba Industries Ltd., and UPL Limited.
Key questions answered in the report-
- Which are the high growth market segments in terms of type, crop type, mode of application, form, and regions/countries?
- What is the historical market for fungicides across the globe?
- What are the market forecasts and estimates from the period 2015-2022?
- What are the major drivers, restraints, opportunities, and trends in the global fungicides market?
- Who are the major players in the global fungicides market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- What are the competitive landscapes and who are the market leaders by sub-region in the global fungicides market?
- What are the recent developments in the global fungicides market?
- What are the different strategies adopted by the major players in the global fungicides market?
- What are the geographical trends and high growth regions/ countries?
- Who are the local emerging players in the global fungicides market and how do they compete with the global players?
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